• Stifel Financial average operating margin for 2023 was 18.06%, a 15.88% decline from 2022.
• Stifel Financial average operating margin for 2022 was 21.47%, a 1.51% decline from 2021.
• Stifel Financial average operating margin for 2021 was 21.15%, a 28.49% increase from 2020.

Operating margin can be defined as operating margin measurement of what proportion of a company's revenue is left over after paying for variable costs of production such as wages, raw materials, etc.